Cyclicality

Definition

​

The concept "cyclicality" is defined as repetitive deviations about a trend created by a stable set of economic forces. 

​​

Context

​

The concept of cyclicality relates to fluctuations about a clear trend. It refers to the booms and busts that punctuate economies without significantly altering the long-term behavior. The rise-and-fall of interest rates or deficits / surpluses are prototypical examples.

​

Unlike the scientific use of the term, an economic cycle need not be spaced regularly. 

​

With regards to the Top 15 Agenda, cyclical effects are uninteresting. The goal of the Top 15 Agenda is to alter cyclicality i.e. change the long-term economic trends in order to create an "episode" of significant socio-economic advancement that would place Israel among the 15 leading countries in terms of quality of life.